Friday, July 7, 2017

GBPUSD analysis for 07.07.2017

The UK is releasing the manufacturing production data and the US is publishing the NFP and the wages data. The support rests at 1.29430 with resistance at 1.29790 which both lines are above the weekly pivot point at 1.29200. The EMA of 10 is moving with bullish bias along the ascendant channel and it is above the EMA of 200 and the EMA of 100. The RSI is falling towards the 50 level, the Stochastic is moving in high ranges and MACD indicator is in neutral territory. The ADX is not showing any clear signals. The support level breakthrough will smooth the way for further decline towards 1.26, Otherwise the pair will rise towards 1.30.

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